Business
Real Estate Due Diligence: What Every Buyer Must Check Before Paying in Lagos State by Dennis Isong
Avoid lands tagged as “committed”—this means the government has already planned something for that area.
Mr. Samuel had finally saved enough to buy his dream plot in Lagos. He was tired of renting and wanted a piece of land to call his own.
One day, he came across a well-dressed agent who promised him a juicy deal—a prime piece of land in Ibeju-Lekki at an unbelievably low price.
The agent assured him that everything was “clean.” No Omo Onile drama, no government wahala. Mr. Samuel was excited.
He visited the land once, saw a few other buyers inspecting, and felt reassured. Without conducting any serious checks, he quickly made payment.
The agent even arranged for a “lawyer” to draft a deed of assignment. Everything seemed perfect.
Two months later, Mr. Samuel decided to start building. That was when the nightmare began. A group of fierce-looking men stormed the site, shouting that the land belonged to their family.
They claimed they never sold it to anyone. Confused and scared, Mr. Samuel tried calling the agent—his number was switched off.
The “lawyer” who drafted his deed had disappeared too. He went to the Lagos State Land Registry, only to discover that the land was government-acquired. Mr. Samuel had lost everything.
His hard-earned savings, his dreams, and his peace of mind. This could have been avoided if only he had done proper due diligence before paying.
What is Due Diligence in Real Estate?
Due diligence means verifying everything about a property before committing to buy it. It’s like running a background check to make sure you are not about to throw your money into a trap.
Lagos is notorious for real estate fraud—Omo Onile disputes, fake land documents, and government-acquired properties being resold illegally. One wrong move and you could lose millions.
So, before you pay a kobo, here are the critical things you must check:
1. Confirm Ownership: Who Really Owns the Land?
Never assume the person selling the land is the real owner. People sell land they don’t own every day in Lagos. Some are tenants or relatives of the real owner, while others are pure scammers.
What to Do:
● Ask for the title documents (C of O, Deed of Assignment, Governor’s Consent, or Survey Plan).
● Go to the Lagos State Land Registry (Alausa) to verify the document. If the land is not registered, don’t buy it.
● If it’s family land, ensure all family members involved sign the documents to avoid future disputes.
2. Verify Land Title and Documents
Even if the seller shows you a C of O, don’t trust it blindly. Fake C of Os and land documents flood the market. Some lands also have government restrictions, meaning they can be demolished anytime.
What to Do:
● Conduct a search at the Lagos State Lands Bureau to verify if the title is genuine.
● Cross-check survey plans at the Office of the Surveyor-General to confirm the land’s coordinates and whether it falls under government acquisition.
● Engage a trusted real estate lawyer to help you review the documents.
3. Check for Government Acquisition Issues Lagos State is aggressive when it comes to land acquisition. Some lands are meant for future government projects but are still being illegally sold to unsuspecting buyers.
What to Do: ● Visit the Lagos State Ministry of Physical Planning and Urban Development to check if the land is under acquisition.
● Avoid lands tagged as “committed”—this means the government has already planned something for that area.
4. Conduct a Physical Inspection—Don’t Rely on Photos Many buyers have fallen victim to real estate scams because they paid for land they never saw. Some agents take buyers to a different land, collect money, and disappear.
What to Do:
● Visit the land multiple times—morning, afternoon, and evening. ● Talk to neighbors and ask questions about the land’s history.
● Check for any signs of disputes (e.g., different people laying claims to the land).
5. Avoid Verbal Agreements—Everything Must Be in Writing Many people have lost money because they trusted verbal agreements. Some sellers will promise you land and later deny ever meeting you.
What to Do:
● Ensure you have a proper sales agreement signed by both parties.
● The agreement should be prepared by a trusted lawyer, not the seller’s lawyer (to avoid conflict of interest).
● Every payment must be documented, and receipts issued.
6. Investigate the Seller or Real Estate Company Some real estate companies in Lagos operate like Ponzi schemes.
They sell lands that don’t belong to them, promising fake allocations.
Before you pay, verify! Before you sign, investigate! Before you trust, confirm! And if you need expert guidance, reach out to a trusted real estate professional (like me) who can help you avoid the pitfalls.
What to Do:
● Research the company’s history and reviews from past buyers.
● Confirm their RC number and check if they are registered with CAC.
● Visit their physical office and ask tough questions. 7. Beware of Omo Onile Wahala Omo Onile (land grabbers) can frustrate landowners with illegal fees and disturbances.
They can show up after purchase, demanding extra money or threatening to seize the land.
What to Do:
● Buy land in secured estates to avoid Omo Onile drama.
● If buying directly from a family, ensure ALL family members agree to the sale.
● Have a lawyer draft an indemnity clause in your agreement to protect you from future Omo Onile claims.
8. Know the Land Use Purpose
Not all lands are meant for residential buildings. Some are strictly for commercial, agricultural, or industrial use.
What to Do:
● Check the zoning regulations at the Lagos State Ministry of Physical Planning.
● If you’re buying for business, ensure you won’t run into legal troubles later.
Don’t Let Greed and Urgency Lead You Into a Trap Many people fall victim to real estate scams because they are in a rush or want “cheap land.”
Lagos is a tough market—if a deal looks too good to be true, it probably is.
Remember Mr. Ade’s story? Don’t let it happen to you. No matter how urgent the deal seems, take your time to verify everything.
Due diligence is not a waste of time; it’s the only thing standing between you and financial disaster.
Before you pay, verify! Before you sign, investigate! Before you trust, confirm! And if you need expert guidance, reach out to a trusted real estate professional (like me) who can help you avoid the pitfalls.
Business
John Ternus is Apple’s incoming CEO
John Ternus, Apple’s longtime hardware boss, is taking over as CEO, becoming just the second leader since Steve Jobs departed in 2011, less than two months before he died from cancer.
• John Ternus / CNBC / Getty Images
Tim Cook’s 15-year tenure as Apple CEO comes to an end on Sept. 1, the company announced on Monday.
John Ternus, Apple’s longtime hardware boss, is taking over as CEO, becoming just the second leader since Steve Jobs departed in 2011, less than two months before he died from cancer.
CNBC reports that as Cook exits, Apple faces numerous challenges, including an intricate supply chain that’s complicated by geopolitical tensions and soaring prices for memory due to unprecedented demand from the AI buildout.
But for Ternus, perhaps the most critical aspect of his new job will be pushing the company deeper into AI, where it’s lagged many of its megacap peers.
It said that so far, Apple’s AI strategy has involved avoiding hefty capital expenditures while Microsoft, Google, Amazon and Metacommit to hundreds of billions of dollars a year in combined capex to fund new data centers and fill them with pricey AI chips.
Business
NCC, CBN launch telecom industry portal to track fraudulent phone lines
“This means banks and other financial institutions can determine whether a line is active, swapped, disconnected, or reassigned to another subscriber.”
The Nigerian Communications Commission (NCC), and the Central Bank of Nigeria ( CBN), have launched a portal that enables financial institutions to track fraudulent and suspicious phone lines across the country.
It is called the Telecoms Identity Risk Management System (TIRMS) portal , aimed at providing financial institutions with real-time visibility into the status of phone numbers used for transactions.
“The portal aggregates data on churned or recycled lines and numbers flagged for suspicious activities.
“This means banks and other financial institutions can determine whether a line is active, swapped, disconnected, or reassigned to another subscriber,” said the Executive Vice Chairman of NCC, Dr. Aminu Maida.
Speaking during the MoU signing event, Maida said that the agreement provides a structured framework for cooperation in critical areas, including payment system integrity, fraud mitigation, digital inclusion, and consumer protection.
On his part, Governor of CBN, Mr. Olayemi Cardoso, said the MoU would strengthen coordination on regulatory approvals, technical standards, and innovation initiatives, including sandbox testing.
He noted that the partnership aligns with the apex bank’s commitment to promoting a secure, resilient, and inclusive financial system.
Business
FG allocates Flour Mills’ Golden Sugar 300,000MT annual production target
Golden Sugar Company, a subsidiary of Flour Mills of Nigeria PLC, currently cultivates about 6,600 hectares, producing about 20,000 metric tonnes of sugar yearly, according to the Group Chief Executive Officer of GSC, Boye Olusanya.
Photo: Director of Strategy and Stakeholder Relations at Flour Mills of Nigeria Plc, Sadiq Usman (left); Head, Strategy and Performance Management at the National Sugar Development Council (NSDC), Ms. Edirin Akemu; Group Chief Executive Officer of Golden Sugar Company (GSC), Boye Olusanya; Minister of State for Industry, Senator John Owan Enoh; Executive Secretary/Chief Executive Officer, NSDC, Kamar Bakrin and GSC General Manager, Anlo Du Pisani; during the Minister’s visit to the GSC Complex in Sunti, Niger state.
The Minister of State for Industry, John Owan Enoh, has urged the Golden Sugar Company (GSC) to expand its yearly production capacity to 300,000 metric tonnes by 2030.
Golden Sugar Company, a subsidiary of Flour Mills of Nigeria PLC, currently cultivates about 6,600 hectares, producing about 20,000 metric tonnes of sugar yearly, according to the Group Chief Executive Officer of GSC, Boye Olusanya.
The Ninister, accompanied by the Executive Secretary of the National Sugar Development Council (NSDC), Kamar Bakrin, gave the charge when he visited the GSC Complex in Sunti, Niger state.
The Minister noted that the current local sugar production in the country is a long distance away from the 1.8 million metric tonnes that the country consumes yearly, adding that, the GSC must contribute 300,000 metric tonnes in the year 2030.
He commended the management of the company for the employment of about 4,500 workers, emphasising that the government’s requirement for gainful employment is itself achieved here.
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